Independent Advisor Alliance Buys Shares of 1,668 Discover Financial Services (NYSE:DFS)

Independent Advisor Alliance bought a new stake in Discover Financial Services (NYSE:DFS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,668 shares of the financial services provider’s stock, valued at approximately $289,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Discover Financial Services in the third quarter worth about $30,000. SBI Securities Co. Ltd. acquired a new stake in shares of Discover Financial Services in the fourth quarter worth about $33,000. Grove Bank & Trust lifted its position in shares of Discover Financial Services by 78.1% in the fourth quarter. Grove Bank & Trust now owns 203 shares of the financial services provider’s stock worth $35,000 after buying an additional 89 shares during the last quarter. Bfsg LLC acquired a new stake in shares of Discover Financial Services in the fourth quarter worth about $35,000. Finally, Hantz Financial Services Inc. acquired a new stake in shares of Discover Financial Services in the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Discover Financial Services Trading Up 3.9 %

Discover Financial Services stock opened at $158.91 on Wednesday. The business has a 50 day moving average price of $186.78 and a two-hundred day moving average price of $168.54. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. The stock has a market cap of $39.98 billion, a price-to-earnings ratio of 9.96, a price-to-earnings-growth ratio of 1.51 and a beta of 1.45. Discover Financial Services has a 12 month low of $119.31 and a 12 month high of $205.76.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, beating the consensus estimate of $3.13 by $1.98. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. As a group, equities analysts forecast that Discover Financial Services will post 13.88 EPS for the current year.

Discover Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.80 annualized dividend and a dividend yield of 1.76%. Discover Financial Services’s dividend payout ratio is currently 17.54%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price target on Discover Financial Services from $146.00 to $169.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Keefe, Bruyette & Woods boosted their price objective on Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Wells Fargo & Company boosted their price objective on Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a research report on Friday, January 24th. Barclays boosted their price objective on Discover Financial Services from $186.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, Royal Bank of Canada boosted their price objective on Discover Financial Services from $193.00 to $210.00 and gave the stock a “sector perform” rating in a research report on Friday, January 24th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $191.91.

About Discover Financial Services

Discover Financial Services, through its subsidiaries, provides digital banking products and services, and payment services in the United States. It operates in two segments, Digital Banking and Payment Services. The Digital Banking segment offers Discover-branded credit cards to individuals; personal loans, home loans, and other consumer lending; and direct-to-consumer deposit products comprising savings accounts, certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings accounts and checking accounts, and sweep accounts.